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Enacted 2021 PERS legislation

Introduction

The Oregon State Legislature enacted 8 bills impacting PERS in 2021.

BillTopicEffective date
House Bill (HB) 2457

Federal tax reconnect bill

September 25, 2021
HB 2875

PERS omnibus bill

September 25, 2021

HB 2906

Changes Member Redirect salary threshold amount

January 1, 2022

Senate Bill (SB) 111

Technical changes to PERS statutes

January 1, 2022

SB 112

Aligns definition of employee with Internal Revenue Code

June 1, 2021

SB 113

Allows collection of prior year earnings for late individual Account Program (IAP) contributions

June 1, 2021

SB 297

Makes judicial marshals police officers for purposes of PERS

September 25, 2021

SB 5536

PERS budget bill

June 1, 2021


House Bill (HB) 2457

Federal tax reconnect bill
Updates connection date to Internal Revenue Code to April 1, 2021. Also updates PERS mandatory minimum distribution age from 70.5 to 72 years of age.

Full text of HB 2457

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HB2875

PERS omnibus bill
Combines House bills 2375, 2875, and 2867. Provides for restoration of retirement credit for member of Oregon Public Service Retirement Plan (OPSRP) who forfeited retirement credit due to lack of service at end of 2020; provides that certain employee of State Fire Marshal qualifies as firefighter for purposes of Public Employees Retirement System; and directs Public Employees Retirement Board to initiate, resume, or suspend payment of certain increased benefits under Public Employees Retirement System on first day of calendar quarter following receipt of notice by board that benefit payments are or are not subject to Oregon personal income tax.

Full text of HB 2875

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HB 2906

Changes Member Redirect salary threshold amount
Increases Member Redirect monthly threshold to $3,333 per month effective January 1, 2022.

(Note: After 2022, the monthly threshold will continue to be adjusted every year based on the Consumer Price Index.)

Full text of HB 2906

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Senate Bill (SB) 111

Technical changes to PERS statutes
Technical changes to Senate Bill 1049, change to definition of salary for OPSRP members, increase in optional death benefits for Tier 1 and Tier 2 members, increase in death benefits for OPSRP members, and increased retroactivity for new definition of salary for OHSU and charter schools.

Full text of SB 111

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SB 112

Aligns definition of employee with Internal Revenue Code
Changes definition of "employee" in ORS 238.005(8) and "eligible employee" in ORS 238A.005(4) to align with definition included in 26 USC 3121(d)(2) Internal Revenue Code.

Full text of SB 112

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SB 113

Allows collection of prior year earnings for late IAP contributions
Provides that PERS may charge participating public employer accrued earnings for late payment of employee and employer contributions to individual account program.

Full text of SB 113

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SB 297

Makes judicial marshals police officers for purposes of PERS
Provides that judicial marshal certified by Department of Public Safety Standards and Training qualifies as police officer under PERS.

Full text of SB 297

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SB 5536

PERS budget bill
Limits certain biennial expenditures from fees, moneys, or other revenues, including miscellaneous receipts but excluding lottery funds and federal funds, collected or received by Public Employees Retirement System.

Full text of SB 5536

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